The acquisition will give Asahi Glass a second production base in Korea and allow it to establish a more flexible production structure in the country.
Asahi Glass recently announced plans to acquire SCHOTT Processing Korea Co., Ltd. (SPK), a wholly owned Korean subsidiary of SCHOTT AG that is engaged in polishing large glass substrates for thin-film transistor liquid crystal displays (TFT-LCD). Once this acquisition has been approved by the Korea Fair Trade Commission, Asahi Glass will begin the process of acquiring all shares of SPK from SCHOTT AG.
Asahi Glass has an existing subsidiary in South Korea, Asahi Glass Fine Techno Korea Co., Ltd., which manufactures and sells TFT glass. The acquisition of SPK will give Asahi Glass a second production base in Korea and allow it to establish a more flexible production structure in the country. In addition, by acquiring SPK, Asahi Glass expects to be able to utilize the land, facilities and existing infrastructure. Asahi Glass intends to change the subsidiary’s name after the acquisition, but a new name has not yet been determined.
For additional information, call (81) 33218-5509 or visit www.agc.co.jp